Business, international

Branding and the marketplace

Article Abstract:

Branding has become a key way for companies to ensure that there is consistent demand for their products. Branding relieves customers of making complicated purchasing decisions and gives the product a high quality image which in turn provides psychological rewards for customers. Brands can be broadly divided into those which are utterable, or based on actual names, and those which are unutterable, or based on a symbol, typeface, logo or colour scheme. Brand image is strengthened mainly through advertising.

Pricing and the market

Article Abstract:

Prices are affected by a number of factors such as the company's desire for market share or profit, production costs, and the kind of market that the company operates in. Companies may set prices in line with what competitors charge. They may also orient their strategy to the market and charge a high price first, then lower their prices to attract more customers. Companies that are focusing on the market also have to bear in mind what the competition is charging.

Design, product development and the marketplace

Article Abstract:

The significance of the design process for UK firms and the overall competitiveness of the economy is considered. It is suggested that there may be benefits associated with with contracting out 'soft' design work while keeping 'hard' design work in-house. Smaller firms need assistance with making more effective use of design.